By Kevin G. Hall
RISMEDIA, July 23, 2010—(MCT)—Shrugging off investors’ fears of a double-dip recession and punishing deflation, Federal Reserve Chairman Ben Bernanke predicted that a moderate U.S. economic expansion is likely to continue despite numerous threats to growth.
Testifying before the Senate Banking Committee, Bernanke acknowledged that European debt problems are slowing U.S. growth, as is the protracted slump in the U.S. housing sector. He said mounting federal budget deficits must be addressed, but added that government spending is warranted given the lack of private-sector demand for goods and services.
Bernanke shot down suggestions that his Fed is out of bullets should the economy slide back toward contraction.
“If the recovery seems to be faltering, then we at least need to review our options. We need to think about possibilities. But, broadly speaking, there are a number of things we could consider,” he said. (More …)
RISMEDIA, June 29, 2010—United States real estate broker and agent forward-looking confidence edged higher in Point2 Technologies’ monthly Real Estate Confidence Index (RECI) survey in June 2010, rising 0.70% to 5.76 on the RECI scale of 1-10, versus last month. Relatively strong long-term optimism sent the Index’s 12-18 month optimism/pessimism variable higher by three percentage points and was the key catalyst behind the upside.
RISMEDIA, May 26, 2010—Existing-home sales rose again in April 2010 with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors.
RISMEDIA, May 20, 2010—(MCT)—The “staycation” is so last year. Americans who plan to vacation this summer will spend more money and stay away longer than last year, when staying home was more the norm, according to a new survey commissioned by American Express Co.
Yesterday, we reported on the